Quantinno Capital Management LP Raises Position in Allegro MicroSystems, Inc. $ALGM

Quantinno Capital Management LP lifted its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 104.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,902 shares of the company’s stock after purchasing an additional 68,549 shares during the period. Quantinno Capital Management LP’s holdings in Allegro MicroSystems were worth $4,222,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Allegro MicroSystems by 70.0% during the first quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock worth $2,964,000 after purchasing an additional 48,554 shares in the last quarter. AQR Capital Management LLC purchased a new position in Allegro MicroSystems in the first quarter valued at approximately $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Allegro MicroSystems by 31.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company’s stock valued at $8,911,000 after purchasing an additional 85,607 shares during the last quarter. Prudential Financial Inc. raised its holdings in Allegro MicroSystems by 24.0% during the second quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock worth $536,000 after purchasing an additional 3,040 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Allegro MicroSystems by 5.4% during the second quarter. First Trust Advisors LP now owns 576,478 shares of the company’s stock worth $19,710,000 after purchasing an additional 29,531 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Trading Up 3.1%

Shares of Allegro MicroSystems stock opened at $43.77 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70. The company has a market capitalization of $8.16 billion, a P/E ratio of 729.62, a PEG ratio of 1.34 and a beta of 1.94. Allegro MicroSystems, Inc. has a 1 year low of $22.41 and a 1 year high of $71.77. The company’s fifty day moving average is $51.17 and its two-hundred day moving average is $42.95.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, July 30th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The business had revenue of $259.24 million during the quarter, compared to analysts’ expectations of $251.44 million. During the same period in the prior year, the company earned $0.09 earnings per share. The business’s revenue was up 27.5% compared to the same quarter last year. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. Analysts forecast that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Mizuho reduced their target price on Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Morgan Stanley upped their target price on Allegro MicroSystems from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Barclays downgraded Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target on the stock. in a research note on Monday, July 20th. Finally, Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Allegro MicroSystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.80.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 5,217 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $44.88, for a total transaction of $234,138.96. Following the completion of the sale, the chief accounting officer directly owned 13,106 shares of the company’s stock, valued at $588,197.28. This represents a 28.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Doogue sold 30,089 shares of Allegro MicroSystems stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $47.23, for a total value of $1,421,103.47. Following the completion of the transaction, the chief executive officer owned 252,797 shares in the company, valued at $11,939,602.31. This trade represents a 10.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 68,607 shares of company stock worth $3,213,714 over the last three months. 0.50% of the stock is currently owned by company insiders.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc (NASDAQ: ALGM) is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro’s product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.